Howard Bancorp Announces Stock Repurchase Program

BALTIMORE--(BUSINESS WIRE)--Howard Bancorp, Inc. (“Howard Bancorp” or the “Company”) (Nasdaq: HBMD), the parent company of Howard Bank (“Howard Bank” or the “Bank”), announced today that it has received a non-objection letter from the Federal Reserve Bank of Richmond to allow the Company to repurchase shares of its common stock. Under the repurchase program, management is authorized to repurchase an aggregate amount of up to $7.0 million of the outstanding shares of the Company's common stock. The program will expire in December of 2020.